News
Afghanistan’s central bank to auction $15 million to stabilize Afghani
Afghanistan’s central bank has announced an auction of $15 million to stabilize the Afghani, inviting bids from moneychangers, private banks, and other eligible providers. This effort continues the bank’s ongoing measures to prevent further devaluation of the currency.
Afghanistan’s central bank announced on Monday that it will auction 15 million U.S. dollars in a bid to maintain the stability of the national currency, the Afghani.
The auction is aimed at preventing further devaluation of the currency.
In a statement posted on its X account, Da Afghanistan Bank specified that bidders, including moneychangers and private banks, must deposit the equivalent amount in Afghani in cash at the central bank.
The bank has called on eligible banks, foreign exchanges, and monetary service providers to participate in the auction.
Over the past three years, the central bank has injected millions of U.S. dollars into the money exchange market to stabilize the Afghani.
ALSO READ : Tunji-Ojo orders probe into Kogi prison break
Since taking power in August 2021, the Afghan interim government has implemented various measures to safeguard the value of the currency against foreign currencies.
As of now, the exchange rate stands at approximately 70.50 Afghani for one U.S. dollar.
-
News4 days agoWidow of late investigative broadcaster Kola Olawuyi dies
-
Business1 week agoPressure mounts on marketers as Nigerians demand lower fuel prices amid falling global oil costs
-
Crime4 days agoOutrage as NYSC doctor allegedly dies after delay in approving sick leave
-
Agribusiness1 week agoRising insecurity threatens Nigeria’s food supply as farming communities abandon farmlands
-
Energy1 week agoNigerians turn to solar as rising diesel costs, unstable grid drive energy shift
-
Latest3 days agoOne killed as ethnic clash erupts in Ibadan following reported overnight stabbing (video)
-
Business1 week agoThe State House Statement: An Unquantifiable Reputational Damage to the Nigerian Financial Sector
-
Education1 week agoJSS3 Student stuns educators with University-level maths, secures global STEM Olympiad spot